Overseas Series · 【Tianfeng New Energy & Auto】Microsoft: Cloud business revenue growth exceeded expectations, capital expenditure expectations remain unchanged - 0723

English summary

All figures below are in US dollars: 26Q2 revenue of $90 billion, +18% YoY; operating income of $40.6 billion, +18% YoY; Non-GAAP net income of $35.3 billion, +22% YoY; EPS of $4.74. 26Q2 capital expenditure of $41 billion, of which 2/3 for CPU/GPU and other purchases. Operating cash flow of $55.4 billion, +30% YoY; free cash flow of $19.6 billion. FY26, Azure revenue exceeded $100 billion for the first time, and MS 365 Copilot paid users exceeded 30 million. Cloud business Microsoft cloud business 26Q2 revenue of $59.3 billion, +27% YoY; RPO (backlog) of $678 billion, +84% YoY, with about 30% to be recognized within the next 12 months; Productivity and business processes revenue of $37.8 billion, +14% YoY; #Intelligent Cloud 26Q2 revenue of $39.3 billion; +32% YoY; Azure and other cloud services revenue +43% YoY. ...